Jimmy Haslam
James Arthur "Jimmy" Haslam III (born March 9, 1954) is the CEO of the Pilot Flying J truck stop chain and the current majority owner of the Cleveland Browns of the National Football League. On October 16, 2012, Haslam's $1 billion purchase of the Browns was unanimously approved by the 32 teams in the NFL; the sale itself closed on October 25, 2012. His father, fellow businessman Jim Haslam, founded the Pilot Flying J company in 1958 as the Pilot Oil Corporation. Pilot Flying J's headquarters were raided in April 2013, as federal investigators looked into claims that the company deliberately withheld rebate payments from trucking companies. On June 14, 2014 Pilot Flying J reached an understanding with the U.S. Attorney's Office, Eastern District of Tennessee, and the U.S. Department of Justice that the company would not be prosecuted, assuming it follows the terms of the agreement, including paying a monetary penalty over a two (2) year period. Haslam, who lives in his native Knoxville, Tennessee, is brother to Bill Haslam, the Governor of Tennessee. While attending the University of Tennessee Haslam was a roommate of Bob Corker, the current United States Senator from Tennessee. He is a member of the Sigma Chi fraternity. Haslam bought a minority interest in the Pittsburgh Steelers in 2008. In 2012, he reached an agreement with Browns owner Randy Lerner to purchase the franchise for $1 billion (USD). The Browns were valued at $977 million in 2011 by Forbes magazine, 20th in the NFL. NFL rules prohibit ownership in multiple teams and so Haslam sold his interest in the Steelers.